Yamaha reports Q1 2010 results

Strong Asian sales make up for weak North American market

Yamaha Motor Co. reported a net income of 7.5 billion yen (US$80.9 million) over the first quarter of 2010 compared to a loss of 15.8 billion yen (US$169 million) in 2009.

The Japanese manufacturer reported 309.9 billion yen (US$3.3 billion) in sales over the first quarter ending March 31 2010, up 16.3% from the 266.5 billion yen (US$2.9 billion) in the first quarter of 2009.

Yamaha sold 1.6 million motorcycles worldwide, up 26% from the 1.2 million units sold in 2009. The bulk of the increase came in the Asian region (excluding Japan), where sales rose to 1.4 million from 1 million. Sales in Japan dropped to 24,000 units from 28,000 units while North American motorcycle sales dropped by 57.5% to 17,000 units from the 40,000 units sold in the first quarter of 2009.

The gains in the Asian market however 218 billion yen (US$2.3 billion) in revenue in the quarter, up 16% from 2009.

Over rest of the year, Yamaha forecasts 1.2 trillion in sales, with 6.5 million motorcycles sold including 56,000 in North America.

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